International payment solution provider Flywire is announcing that it has acquired PACE Invoice.
Pace is a multi-currency invoicing platform provider based in London that specializes in invoicing. Flywire will add that new capability to its cross-border payments and receivables services.
Flywire specializes in big ticket CX purchases in such rarified areas as education and healthcare. Going forward, the acquisition will make it easier and more straightforward for clients to link invoices to cross-border receivables, saving time and costs in invoice preparation and payment reconciliation.
“This fills a growing need for clients across all our industry sectors – business, education and healthcare,” said Mike Massaro, CEO of Flywire. “Cross-border invoicing is challenging, and by enabling these capabilities within our platform, we will further enhance our already industry-leading cross-border payment solution in the market. We’re also very pleased to be able to say that James Shattock and the entire PACE team will join us to capitalize fully on this great opportunity.”
The move comes on the heels of Flywire’s recent expansion into the cross-border payment market for businesses.
“This is a great move for us – joining a dynamic, fast-growing company like Flywire where our offering is highly complementary and will be quickly integrated into the international payment and receivables platform Flywire has built,” said Shattock. “Our invoicing capability meets an important cross-border business need for their customers and can help accelerate Flywire’s expansion, especially in the B2B market. We’re really excited to be part of that.”